With the fundamental picture looking bleaker in Europe amid a supposed small retracement in the Commodity market; the charts are adding evidence that shorting this pair might be a massive explosive play. As the charts indicate a few inherent risks in a short play, the bulk of the chart “technicals” indicate a stronger case for a break down. Looking at the monthly chart; if prices break out of this tri pattern to the downside; we should see 100% to 150% of leg one to the downside. This play works well with a continued bull market in the commodity market. Many experts agree that China/India are just getting started in their bullish move. This continued Bull market in China/India would keep commodity prices high. Europe and US are also expected to continue inflating their currencies, so seeing the EUR fall against commodity driven AUD is expected..
